Corn and Soy End the Day Lower

March corn ended the day down 6¾¢ at $4.90¼ per bushel.

According to the Grain Market Insider newsletter by Stewart-Peterson Inc., corn was impacted by technical selling and end-of-month positioning today.

March soybeans closed down 16½¢ at $10.44 per bushel.

Grain Market Insider said soybeans were “pressured by weak export sales and a steep decline in soybean meal.” This morning, USDA released the weekly U.S. Export Sales report and according to The Brock Report, net soybean sales were below trade expectations. More analysis from The Brock Report is below in the morning update.

March wheat contracts closed higher. CBOT wheat was up 4¢ at $5.66½ per bushel. KC wheat was up 8¢ at $5.88¼ per bushel. Minneapolis wheat was up 6½¢ at $6.20¼ per bushel.

Grain Market Insider said wheat prices were supported by concerns over weather conditions in the U.S. and Russia.

April live cattle ended the day down $3.45 at $201.50 per hundredweight (cwt). March feeder cattle were down $2.08 at $273.20 per cwt. April lean hogs were up 60¢ at $91.93 per cwt.

Just ahead of 2:30 p.m. CT, March crude oil was up 24¢.

March S&P 500 futures and Dow futures were up 47 points and 272 points, respectively.

Published: 3:16 p.m. CT

Soybeans Down Nearly 17¢: 9:45 a.m. CT

Shortly past 9 a.m. CT, March corn was down 6¾¢.

March soybeans were down 16½¢.

March wheat contracts were mixed. CBOT wheat was down 1¼¢. KC wheat was up less than a penny. Minneapolis wheat was unchanged.

Concerning the weekly U.S. Export Sales report. The Brock Report offered this commentary of the report:

“Net U.S. corn export sales for the week ended Jan. 23 came in at 55.3 million bushels, in line with trade expectations that ran 31.5-71 million, but down from the previous week’s 65.8 million. The data is likely to be neutral for corn prices.

“Net weekly U.S. soybean export sales came in at 16.3 million bushels, slightly below trade expectations that ran 16.5-62.5 million, and down from the previous week’s sales of 54.8 million. The sales data looks negative for soybean prices.

“Net weekly U.S. wheat export sales came in at 17.6 million bushels, near the high end of trade expectations that ran 5.5-18.5 million, and up from the previous week’s 6.1 million. The sales data looks mildly supportive for wheat prices.”

April live cattle were down 23¢ shortly past 9 a.m. CT. March feeder cattle were up 73¢. April lean hogs were up 40¢.

March crude oil was up 55¢.

The U.S. Dollar Index March contract was down to 107.55.

March S&P 500 futures were up 20 points. March Dow futures were up 66 points.

Published: 9:45 a.m. CT